Gold prices gained in Asia on Thursday as the Federal Reserve held steady on interest rates as expected

Commodity Intraday Tips


Gold prices gained in Asia on Thursday as the Federal Reserve held steady on interest rates as expected, though the outlook for a possible hike this year by the FOMC remained subject to debate. Gold for December delivery on the Comex division of the New York Mercantile Exchange rose 0.48% to $1,337.75 a troy ounce.

The precious metal is sensitive to moves in U.S. rates, which lift the opportunity cost of holding non-yielding assets such as bullion, while boosting the dollar in which it is priced. A gradual path to higher rates is seen as less of a threat to gold prices than a swift series of increases.


LME copper is predicted to move at USD 4,760-4,800/mt on Thursday and SHFE 1611 copper will range between RMB 37,200-37,550/mt.Base metals should stay firm on Thursday with US Fed leaving rate unchanged at September rate meeting. Those figures will be in focus today, including US August existing home sales, last week’s initial jobless claims and September CCI from euro zone.US August manufacturing PMI was negative and manufacturing employment sub-index of US August non-farm payrolls unexpectedly dropped notably. This may indicate negative reading of Chicago Fed national activity index.


Crude prices held gains in Asia on Thursday as U.S. stockpile figures aided more upbeat demand views even as global oversupply persists.Crude oil for November delivery on the New York Mercantile Exchange rose 1.01% to $45.80 a barrel.Overnight, West Texas Intermediate oil futures extended gains surging to intraday highs, in North American trade on Wednesday, after data showed that oil supplies in the U.S. unexpectedly fell.The U.S. Energy Information Administration said in its weekly report that crude oil inventories fell by 6.2 million barrels in the week ended September 16.

Get Free Silver Tips With Profitable Calls By Our Expert Researcher, Amazing MCX Bullion Tips, Profitable Commodity Trading Tips, Sureshot Profit Crude Oil Tips...
Visit- CapitalStars
For More Detail You Can Call On:- 0731-6669900, 6790000